Legions of potential homebuyers are waiting for lower mortgage rates. After yesterday's Fed meeting, their wish may be closer to coming true.
The Fed boosted its key rate 25 bps to 4.875%. But the bigger news was its new projected rate path, and the market's reaction to it.
"Until last year, most fixed-rate borrowers didn’t even consider anything other than a 5-year term," says MCAP SVP, Megan McDonald. But with rates doing a moonshot, she says brokers "have been looking for an alternative to 5-year terms."
So MCAP gave it to them — in the form of a
In down real estate cycles it's normal to get regularly bombarded with gloomy real estate stories (like this).
It can be tempting to think the housing correction is still in the middle innings when in fact, the correction may be down to its last three outs.
Despite the downside risk
2022's waterfall in home values and dearth of liquidity may have temporarily killed the property flipping game, but it'll be back someday. And when flipping returns in ernest, CRA will be collecting more tax.
As most have already heard, new anti-flipping tax rules took effect on January 1, 2023. The
You've successfully subscribed to MortgageLogic.news
Great! Next, complete checkout for full access to MortgageLogic.news
Welcome back! You've successfully signed in.
Unable to sign you in. Please try again.
Success! Your account is fully activated, you now have access to all content.
Error! Stripe checkout failed.
Success! Your billing info is updated.
Error! Billing info update failed.